£5bn JLR boost welcomed by industry
JLR's £5bn investment into UK manufacturing will provide a welcome boost for the automotive industry. That's according to John Leech, partner at KPMG in Birmingham.
The Warwickshire manufacter's parent company Tata announced plans last week to invest £5bn over the next five years. The funding will allow the launch of 40 new models.
Leech, a partner in KPMG’s automotive practice in Birmingham, said: "Tata’s announced £5bn investment in JLR is very pleasing news for the motor industry, manufacturing in general and the UK economy. This is a “full” investment that will set JLR up for years to come. It shows that Tata has faith that JLR can be a leading global carmaker and underscores that with the right product and right brand, the UK is a successful location for manufacturing.
"Although the prospects are for low growth in the Western car markets, Asian car markets will continue to see double digit growth for years to come and it is this opportunity that Tata has its eye on. Credit must go to JLR’s management team which has done a great job of turning itself around during the recession."
